Power Sector CEOs Join Top Execs in Redefining Corporate Purpose

Credit to Author: Sonal Patel| Date: Thu, 22 Aug 2019 13:36:50 +0000

The list of 181 CEOs who earlier this week moved to publicly degrade shareholder value in a bid to redefine the “purpose of a corporation” includes several chief executives from power companies.  The Aug. 19 statement issued by the Business Roundtable, an association of CEOs “to promote a thriving U.S. economy and expanded opportunity for […]

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Trump Administration Set to Guarantee $3.7 Billion to Finish Vogtle Nuclear Expansion

Credit to Author: Darrell Proctor| Date: Wed, 20 Mar 2019 20:58:56 +0000

Energy Secretary Rick Perry will reportedly announce March 22 that the Trump administration will finalize $3.7 billion in loan guarantees to support completion of the Vogtle nuclear plant construction project. The announcement is expected when Perry visits the site near Waynesboro, Georgia, on Friday along with Georgia Gov. Brian Kemp and Southern Co. CEO Tom […]

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THE BIG PICTURE: World’s Biggest Power Companies

Credit to Author: POWER| Date: Fri, 01 Feb 2019 05:00:41 +0000

In 2017, the 10 largest power companies, ranked by their installed generation capacity, owned 18% of total global installed capacity, while the next-largest 15 owned around 10%—meaning that the top 25 companies own nearly 30% of global installed power generation capacity, according to the International Energy Agency (IEA). Chinese companies account for more than one-eighth of global installed […]

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Plagued by Grim Challenges, Vogtle Nuclear Expansion Lags Behind Schedule, Says Oversight Consultant

Credit to Author: Sonal Patel| Date: Thu, 06 Dec 2018 14:36:55 +0000

The two-unit Vogtle expansion in Georgia faces major challenges that are poised to derail its schedule and ramp up costs—and the project is already behind schedule, a consulting firm tasked with construction oversight of the project told regulators. In revealing testimony filed with the Georgia Public Service Commission’s (PSC’s) public interest advocacy staff on November […]

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Xcel Buys Minnesota Gas-Fired Plant

Xcel Energy said it will buy a natural gas-fired power plant in Minnesota from Southern Power, a subsidiary of Southern Co. The $650 million deal for the Mankato Energy Center puts Xcel in charge of a facility from which it has purchased power since the plant’s first unit came online in 2006. A second unit […]

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Fate of Vogtle Nuclear Expansion Hinges on Minority Owners

On August 8, Georgia Power announced that its revised capital and construction cost forecast for its share of the Plant Vogtle expansion project had increased from $7.3 billion to $8.4 billion, based on a revised cost-to-complete estimate from Southern Nuclear. The news was softened somewhat by Georgia Power’s declaration that significant construction progress had been […]

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An 865-MW Georgia Power Coal Plant Is Showing Distress

The future of Georgia Power’s 865-MW coal-fired Plant Hammond in Floyd County, Georgia—which recently slashed more than half its workforce—is murky, company officials said August 3. The four-unit facility that began operations in 1954 employed 190 workers in September 2016. Today, according to company officials, the plant only has 41 full-time employees. Georgia Power Regional […]

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